Crude Futures Decline as Israel Holds Back from Retaliating Against Iran U.S. crude oil prices dropped below $83 as tensions in the Middle East showed signs of easing, with Israel holding off on an immediate retaliation against Iran following last weekend’s unprecedented air assault. This restraint has reduced fears of a major conflict in the region, leading to a decline in oil prices for the fourth consecutive day. The West Texas Intermediate contract for May fell to $82.34 a barrel, while June Brent futures decreased to $86.77 a barrel. This week, oil prices have decreased by 4%, as traders reduce the geopolitical risk premium that had escalated over the previous two weeks due to heightened hostilities triggered by an Israeli airstrike on an Iranian diplomatic site in Syria earlier in the month. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Charted: Workers Win As Wage Growth Outpaces Inflation READ MORE TSX Futures Stagnate as Investors Weigh Gold Decline Against Fed Signals READ MORE Despite High Inflation Reports, Fed's Barkin Eyes Future Rate Normalization with Caution READ MORE NYCB in Crisis: CEO Steps Down as Losses Mount to $2.7 Billion READ MORE De-Dollarization: A Gradual Shift from US Currency Control READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment